This will be the first in many posts regarding my experience in the closing process. Up until now I have documented getting approved for a loan, as well as looking at properties. Today we put in an offer on a house we really feel good about. Starting with this post, and throughout the closing process…I will be trying to update the site a little more frequently. Hopefully this will give a little more insight to the turn of events that will be taking place.

We met with Val this afternoon to review the offer we intend to submit, and sign all the necessary paperwork. Val has since submitted the offer, and hopefully we will hear back from her in the next couple days. After a deal is agreed upon, we will have five days to meet with the broker and officially submit all of our paperwork (bank history, year end statements, paychecks etc). We will also have seven days to order and complete an inspection on the home. As long as the inspection goes well, all systems are go.

With such quick time-frames, I think this is the point allot of people tend to get panicked. From working at Wells Fargo, I have heard numerous stories of things getting complicated due to the application/approval/closing processes being rushed. I would advise anybody to try and make sure they are prepared throughout the entire loan process. After speaking with Val today, we got in contact with Greta (our broker). She advised us on exactly what we will need before we meet with her. Jolena and I spent the evening getting everything prepared, and I will be contacting her tomorrow to set an appointment. I feel we are prepared as can be, which will hopefully cut down on any complications further down the road.

I will be sure to update once we have received word on our offer.